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Current activity on the Bitcoin network
Bitcoin Network: Basics and Operating Principles
The Bitcoin network is a global decentralized system created to support the cryptocurrency of the same name. It was launched in 2009 based on the ideas outlined in a white paper under the pseudonym Satoshi Nakamoto. This system combines cryptography, distributed technologies, and economic incentives to ensure operation without central control.
Structure and Components of the Network
The Bitcoin network consists of numerous nodes - computers with installed software. Each node stores a full copy of the blockchain - a public ledger of all transactions. Transactions are transmitted between nodes in real time and verified using cryptographic methods.
Mining Process and Consensus Mechanism
The key element of the network is mining - the process of adding new blocks to the blockchain. Miners solve complex mathematical problems known as proof of work. A successful miner receives rewards in the form of new bitcoins and transaction fees.
Main Network and User Interaction
Bitcoin operates on the mainnet (mainnet), where all real transactions occur. Users interact with the network through digital wallets, generating unique addresses for sending and receiving bitcoins.
Network Parameters and Security
Mining difficulty is automatically adjusted every two weeks to maintain an average block creation time of around 10 minutes. Hashrate reflects the total computational power of the network and is an indicator of its security.
Transactions and Fees
Transactions on the Bitcoin network are transfers between addresses. Miners include transactions in blocks, prioritizing those with higher fees. The size of the fees depends on the volume of the transaction and the current network congestion.
Current State of the Network
As of September 2025, the network difficulty reached 912866, and the average price of Bitcoin is around 115,000 USD. The block reward after the recent halving is 1.5625 BTC.
Average price of Bitcoin in September 2025
Scalability and Additional Solutions
To increase the network's throughput, second-layer solutions such as the Lightning Network are being developed. These technologies allow for fast and inexpensive transactions outside the main blockchain while maintaining a high level of security.